@CryptoPointHi Great way to share updates.
Liking it 👍🏼
In the coming posts, please share ur views on the alts as well.. I know not all the alts will survive this bear market, but I'm sure, some of them are good long term contenders.
You already shared your views on SOL.
XRP, LTC, DOT, Link etc
'I think if truly I was defeatable the Gandhi's would have fought...' Smriti Irani On Rahul Gandhi And Politics
Watch the full conversation on CNN-News18's YouTube
https://t.co/VDtc5ojkoY
@smritiirani@_pallavighosh | #women#WomeninPolitics#smritiirani#amethi#congress #uttarpradesh #bjp #election #ShondeshWithGhosh #RahulGandhi
Dubai government has put entire Real Estate data on a blockchain.
You can pretty much track: which apartment, in which building, at what floor, got sold for what price.
Such applications are being built on blockchain.
A blockchain can't really survive unless: you have a developer and an investor ecosystem thrive.
Cryptos allow us to lower the transaction cost, build open ledgers and make things transparent. As things become more transparent, corruption comes down.
Exchanges in India have been facing the brunt of excess taxation, lack of regulation and a bunch of hurdles.
If you are someone who supports: transparency and easy transactions, you should vouch for Blockchain and Crypto space.
Skimmed through the US White House Crypto report while having lunch.
It is 166 pages long and provides a detailed understanding of the digital asset ecosystem, the different market participants, stablecoins, taxation, and the origin and evolution of blockchain and bitcoin.
I will go through in more detail in the evening. But one thing is clear: the US has strong intentions. It sees blockchain and crypto as key levers to strengthen its leadership in the unfolding digital financial revolution.
It is time for India to act & lead too!
India collected a total of ₹706 crore in crypto income tax over the last two financial years.
-FY2022–23: ₹269 crore
-FY2023–24: ₹437 crore
But here’s the BIG problem. TDS India lost to offshore exchanges:
-FY22–23: ~₹3,493 Cr
-FY23–24: ~₹2,634 Cr
(Data from from Esya Centre's Report)
Due to high 1% TDS + 30% capital gains, millions of Indians now trade in offshore exchanges and stay non-compliant.
What can fix this?
-Eliminate the 1% TDS on crypto trades: Domestic trading and compliance would rebound.
-Lower the 30% capital gains tax: Will encourage more investors to invest for the long term & in higher volumes
Lower taxes = higher compliance, more volumes, and far greater revenues for India’s web3 future!
I believe these simple reforms alone could 10× India's crypto tax collections to over ₹5,000 crore per year.
By making just a few key changes, we can bring trading volumes back to India and make India a global leader in crypto!
@smtgpt Investors left with no other option, other than waiting.
Come out clean @smtgpt, or it's a loss for crypto as a whole, and a yet another shame for our country in this space.